American Bitcoin
American Bitcoin Corp. is a publicly traded cryptocurrency mining and treasury management company (NASDAQ: ABTC) headquartered in Miami, Florida. [6] The company focuses on accumulating Bitcoin through industrial-scale mining and strategic treasury management. It was founded in March 2025 as a majority-owned subsidiary of the energy and digital infrastructure firm Hut 8, in partnership with an entity backed by Eric Trump and Donald Trump Jr.. [1] [2] [6]
Overview
American Bitcoin Corp. was officially launched on April 1, 2025, following discussions that began in late 2024 between Hut 8 executives and Eric Trump at the Trump National Golf Club in Florida. The company was established through a partnership between Hut 8 and American Data Centers, an entity backed by Eric Trump and Donald Trump Jr. At its formation, Hut 8 contributed its Bitcoin mining operations and retained an 80% ownership stake in the new subsidiary, with the remaining 20% held by American Data Centers and its shareholders. [2] [6]
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$$ The company's stated mission is "to set the global benchmark for Bitcoin infrastructure, reserves, and innovation and to establish America as the undisputed leader of the global Bitcoin economy," with an objective of maximizing Bitcoin-per-share for its investors. [7] The strategic rationale for its creation was to separate the high-volatility Bitcoin mining operations from Hut 8's core business, allowing the parent company to focus on more predictable infrastructure segments. American Bitcoin operates as a distinct entity but leverages Hut 8's infrastructure through long-term commercial agreements.
Eric Trump, Co-founder and Chief Strategy Officer, stated, "American Bitcoin was founded on the belief that Bitcoin is the defining asset of our time, and that our country must anchor its future by building the infrastructure that secures its leadership in tomorrow’s global economy." [7]
History
The concept for American Bitcoin emerged from meetings in late 2024 between Hut 8 executives and Eric Trump. The company was officially founded in March 2025 and launched its operations on April 1, 2025. [6]
In its first two months of operation, from April to May 31, 2025, the company mined 215 Bitcoin. [6]
On May 12, 2025, American Bitcoin announced its intention to go public through an all-stock reverse merger with Gryphon Digital Mining (ticker: GRYP), a Nasdaq-listed crypto mining firm. The merger was completed on September 3, 2025, and the combined entity began trading on the Nasdaq Global Select Market under the ticker symbol ABTC. [6] [4]
On July 1, 2025, the company announced it had raised $220 million through a private stock sale to acquire additional Bitcoin and new mining equipment. [6]
In a September 2025 SEC filing, the company disclosed treasury holdings of 2,443 Bitcoin, valued at approximately $269 million at the time. By December 10, 2025, American Bitcoin announced it had increased its strategic reserve to 4,783 Bitcoin. Later that month, on December 16, the company stated it had entered the top 20 publicly traded companies globally by Bitcoin treasury holdings. [7] [6]
On February 5, 2026, American Bitcoin scheduled its full-year 2025 earnings release and an accompanying conference call. [7]
Business Model and Strategy
American Bitcoin's business model is built on a "Three-Layered Strategy" designed for efficient Bitcoin accumulation and to maximize Bitcoin-per-share for investors. [7]
- Layer 1: Mining: The company focuses on low-cost, large-scale Bitcoin mining to produce the asset below its market price. It employs an "asset-light" growth model, prioritizing capital on scaling its exahash (mining power) rather than owning all physical infrastructure, which is intended to enable rapid expansion.
- Layer 2: Treasury: This layer aims to accelerate Bitcoin-per-share growth beyond what is possible through mining alone. As a publicly traded company, American Bitcoin leverages access to capital markets for disciplined, strategic acquisitions of additional Bitcoin for its corporate treasury, adhering to a long-term holding strategy.
- Layer 3: Ecosystem: The company seeks to establish U.S. leadership in the global Bitcoin economy through several initiatives. These include conducting research and development to strengthen Bitcoin's infrastructure, supporting public advocacy, and planning to expand Bitcoin access for consumers and enterprises through new products and partnerships.
This strategy includes an illustrative roadmap with a goal of reaching a self-mining capacity of over 50 exahashes per second (EH/s) and exploring international acquisitions to accelerate the growth of its Bitcoin treasury. [7] [3] [5]
Technology and Operations
American Bitcoin's operations are "powered by Hut 8," utilizing an asset-light model that leverages its partner's infrastructure. The company's mining operations are hosted exclusively at Hut 8's purpose-built data centers under a long-term colocation agreement. Hut 8 also provides management and shared business services, including finance, HR, and compliance. This partnership provides access to institutional-grade infrastructure and a turnkey platform, enabling rapid and cost-efficient scaling. [7]
The company's primary mining sites are located in:
- Niagara Falls, New York
- Orla, Texas
- Medicine Hat, Alberta, Canada
As of May 31, 2025, the company reported operating over 60,000 Bitcoin miners and held contractual rights to another 17,280 machines. Its fleet includes next-generation Application-Specific Integrated Circuit (ASIC) technology, such as the Bitmain Antminer S21+ series and MicroBt M5X and M6X series machines. [7] [6] [2]
Corporate Structure and Leadership
American Bitcoin Corp. is a publicly traded company incorporated in Delaware with headquarters in Miami, Florida. It was originally formed as a majority-owned subsidiary of Hut 8, which held an 80% stake at launch. The remaining 20% was owned by American Data Centers, an entity whose investors include Eric Trump and Donald Trump Jr. [6]
The company's leadership and board include individuals from Hut 8, the Trump Organization, and the technology investment sector.
- Eric Trump: Co-founder & Chief Strategy Officer
- Matt Prusak: President
- Mike Ho: Executive Chairman & Board Member
- Asher Genoot: Board Member
- Justin Mateen: Board Member (Co-founder of Tinder)
- Michael Broukhim: Board Member (Co-founder of FabFitFun)
Other key figures include Co-founder Donald Trump Jr.. This leadership team combines experience in cryptocurrency mining, capital markets, and high-growth technology ventures. [3] [2] [6]